The many benefits of outsourcing for accounting professionals have long been talked about and verified, but while the decision to use their services may be a wise and beneficial one, it’s never one that should be rushed into.
Firstly, the objective behind the decision to outsource must be firmly established by the CPA firm, so that it can choose the right partner to help them achieve their strategic goals. Then, there are a number of best practices that should be followed, to ensure that when outsourcing CPA work, everything goes smoothly.
Let’s take a closer look at them:
- Take time to thoroughly evaluate the outsourcing partner
Look in detail at your chosen providers level of experience, expertise, and reputation to ensure that you’re choosing a partner who can meet all of your needs effectively. Where appropriate, reach out to previous or existing clients and ask for their feedback, and be sure to check plenty of online resources for evidence of poor quality work or issues that others may have experienced.
- Make data security your top priority
You’ll need to be able to place your trust in an outsourcing partner (as will your clients, albeit inadvertently), so it’s imperative that you research their security protocols before even discussing your requirements with them. Check that your client’s data will be stored securely, and that the company possess all relevant certifications before discussing anything else with them.
- Put effort into communication
It’s best to start as you mean to go on when it comes to communicating with your chosen outsourced partner, so laying the foundations for effective communication early on, is wise. For instance, if there are likely to be any cultural differences between your team and theirs, find ways to ensure that these are broached in a respectful manner, to minimize potential conflict or miscommunication.
Once you’ve chosen your outsourced partner, try to find time every day for at least a 5-minute check-in with their team leader (or whoever you have chosen as your point of contact), so that you can make sure all objectives and goals are being effectively worked towards, and that any issues or potential problems, aren’t left to fester.
- Try to promote cultural understanding
As touched upon briefly in the point above, ensuring that both teams understand and respect their cultural differences (if any), is massively important for reducing inter-personal conflict, and helping promote smooth collaboration across borders.
Encourage all dialogue to be open, and embrace the sharing of different perspectives between team members for a cultural fit that is much greater.
- Set out SLAs that are clear
Service level agreements, or SLAs, are crucial between a CPA firm and its chosen outsourced partner, and when they have been well-defined, they should help to define both the expectations, and the parameters typically associated with outsourcing. Encompassing such key performance indicators as response times and quality of service among others, SLAs enable CPA firms to set up clear benchmarks and foster accountability.
- Build strong relationships
No outsourcing journey can ever be a success if the offshore team feel as if their achievements and efforts are going unnoticed, or that they’re work in general, is being underappreciated. If you’re satisfied with the work your chosen outsourced partner is providing for you, why not take the time to let them know? By recognizing their achievements, keeping communication lines open at all times, and providing them with avenues for growth, CPA firms can as good as guarantee that their experience with an outsourcing partner, will be a positive one.
Every relationship requires work, and in the accounting and outsourcing industry, relationships between CPA firms and their outsourcing partner, are no different. While CPA firm outsourcing can be an incredibly effective way for accounting professionals to alleviate the burden of intense workloads, offer their clients additional services, and save money overall, the most effective relationships are achieved by adhering to the 6 best practices outlined above.
